The Balanced Scorecard (BSC) is a strategy performance management tool - a semi-standard structured report, supported by proven design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. It is perhaps the best known of several such frameworks (it is the most widely adopted performance management framework reported in the annual survey of management tools undertaken by Bain & Company, and has been widely adopted in English-speaking western countries and Scandinavia in the early 1990s). Since 2000, use of the Balanced Scorecard, its derivatives (e.g., Performance Prism), and other similar tools (e.g., Results Based Management) has also become common in the Middle East, Asia and Spanish-speaking countries.
Read more about Balanced Scorecard: Characteristics, History, Design, Criticism, The Four Perspectives, Measures, Software Tools
Famous quotes containing the word balanced:
“Much of the ill-tempered railing against women that has characterized the popular writing of the last two years is a half-hearted attempt to find a way back to a more balanced relationship between our biological selves and the world we have built. So women are scolded both for being mothers and for not being mothers, for wanting to eat their cake and have it too, and for not wanting to eat their cake and have it too.”
—Margaret Mead (1901–1978)